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Large Medium SmallChinese appliance maker Haier Group Co Ltd said on Wednesday that it has received approval from the National Development and Reform Commission, the country’s economic planner, to proceed with its acquisition of New Zealand’s Fisher & Paykel Appliances Ltd.
The deal is subject to approval from authorities in New Zealand.
Haier said last month that it has offered NZ$869 million ($710 million), or NZ$1.20 per share, for an 80 percent stake in the company, in a bid to boost its global growth.
Haier is one of the biggest makers of home appliances and electronics in the world.
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